MTR Foods
 | |
| Type | Joint-stock company |
|---|---|
| Industry | Food |
| Founded | 1976[1] |
| Headquarters | Bengaluru, Karnataka , India |
| Products | Spices |
| Revenue |  800 Crore (2016)[2] |
| Owner | Orkla Group |
| Parent | Mavalli Tiffin Room |
| Subsidiaries | Aachi |
| Website | www |
MTR Foods is a food products company based in Bengaluru, India. The company manufactures a range of packaged foods including breakfast mixes, ready to eat meals, masalas and spices, snacks and beverages.
MTR Foods Pvt. Ltd. is a subsidiary of Norwegian conglomerate Orkla. MTR is the acronym of Mavalli Tiffin Room.
History[]
The company began with the establishment of the Mavalli Tiffin Room (commonly known as MTR) restaurant in Bangalore in 1924 by Yagnanarayana Maiya.
In 1975, when India was under emergency, a Food Control Act was introduced which mandated that food was to be sold at very low prices. This move made it difficult for MTR to maintain high standards in its restaurant business and forced it to diversify into the instant food business by the following year, selling ready-to-eat snacks such as chutneys and rasams.
In 1984, MTR expanded out of Karnataka to the southern states of Tamil Nadu and Andhra Pradesh.
In 2007, Orkla Group, a Norwegian conglomerate, acquired the packaged foods business of MTR Foods.[3]
Growth and profitability[]
The company is currently an approximately ₹700 crore company [4] which is growing at a CAGR of 18%. The company has been listed as a Fortune Next 500 (India's Top Midsize) company for 2016.
Business[]
In 2011, MTR launched a sub-brand called MTR SnackUp with a range of traditional South Indian snacks like Khara Boondi and Benne Murukku.[5]
In 2017, MTR launched a new brand called Laban[6].
- ^ "Maiyas Beverages And Foods: One Bite At A Time". Forbes India. Forbes India. Retrieved 17 September 2021.
- ^ "MTR Foods eyes Rs 1,000-crore revenue in CY17". Business Standard. 13 April 2017.
- ^ "Norway's Orkla acquires MTR Foods in $80-m deal". Business Line.
- ^ "MTR focusses on south with innovative product". The Hindu.
- ^ "MTR moves top stop reveal from snacking on its market share". business-standard.com.
- ^ "MTR Foods introduces a new brand Laban, a delicious, stretchy, unique human-shaped candy".
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External links[]
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Wikimedia Commons has media related to Mavalli Tiffin Room. |
- Companies based in Bangalore
- Indian brands
- Condiment companies
- Food and drink companies of India
- Food and drink companies established in 1924
- Indian companies established in 1924